MetroCity Bankshares, Inc. (NASDAQ:MCBS) Announces $0.23 Quarterly Dividend

MetroCity Bankshares, Inc. (NASDAQ:MCBS) declared a quarterly dividend on Wednesday, April 16th, RTT News reports. Shareholders of record on Wednesday, April 30th will be given a dividend of 0.23 per share on Friday, May 9th. This represents a $0.92 dividend on an annualized basis and a yield of 3.45%.

MetroCity Bankshares has a dividend payout ratio of 32.6% meaning its dividend is sufficiently covered by earnings.

MetroCity Bankshares Stock Performance

MetroCity Bankshares stock traded up $0.08 during mid-day trading on Wednesday, reaching $26.67. The company’s stock had a trading volume of 43,248 shares, compared to its average volume of 39,367. The firm has a market cap of $677.50 million, a price-to-earnings ratio of 10.63 and a beta of 0.51. MetroCity Bankshares has a twelve month low of $22.25 and a twelve month high of $36.15. The business has a 50 day moving average price of $28.39 and a 200-day moving average price of $30.80. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.92.

MetroCity Bankshares (NASDAQ:MCBS) last issued its earnings results on Tuesday, January 21st. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. MetroCity Bankshares had a net margin of 27.33% and a return on equity of 15.98%. During the same period in the previous year, the company earned $0.65 EPS.

About MetroCity Bankshares

MetroCity Bankshares, Inc operates as the bank holding company for Metro City Bank that engages in the provision of banking products and services in the United States. It offers customary banking services, such as consumer and commercial checking accounts, savings, and money market accounts, as well as certificates of deposit.